Description: Reflections on leadership in all aspects of life -- business, personal, social change.
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I recently stepped off from a large public board. Some question my judgement – after all, getting on a board is something so many are trying to do. Why would I ever decide to exit voluntarily? The answer is simple: I’d been a director on the board for 16 years, and although the company had changed significantly (4 different CEOs, numerous changes in directors, a large successful merger, and countless small bolt-on acquisitions and divestitures), it felt as though it was time to step aside and let others ser
The topic of board refreshment is one of the most important subjects of excellent board governance today. As companies face exponential change through technology and digital disruption, increased societal expectations of enterprise, and shifts in workforce dynamics, boards of directors should be constantly evaluating whether those sitting around the table have the best collective set of skills to serve the stakeholders and advise the executive team. Refreshment, however, is the most difficult thing to do be
In addition to increasing the size of their boards to add new directors, many boards employ one of two tools to help them refresh their membership. According to a Fortune article , 70% of S&P 500 companies (up from 50% in 2015) use mandatory age limits to sunset director service. 6% of the group use term limits to facilitate board churn – a number that has stayed relatively flat over the same period of time.